You can't solve a shortage with demand subsidies. You need to expand supply. SF has too little housing relative to its population, and has perennially tried throwing money at the nonprofit industrial complex which has (obviously) perennially failed to solve the problem because it doesn't generate new housing units, it just bids up and reshuffles the existing ones (and steals a lot of money in the process).

Technically, cratering every fortune 500 does solve inequality so at it's purest their argument is right.

I think it's more socialist/communist motivation to seize production I don't think they care about the rich as much as control.